Budget decisive step to realise PM's vision of developed India: Eknath Shinde

Thane, Feb 1 (PTI) Maharashtra Deputy Chief Minister Eknath Shinde said the Union Budget was a decisive step towards realising Prime Minister Narendra Modi's vision of a developed India and asserted it also provides significant strength to the country's financial capital Mumbai and the rest of the state.

On Sunday, Union Finance Minister Nirmala Sitharaman presented a record ninth consecutive Budget.

Shinde hailed the focus on infrastructure and the promotion of micro and medium industries, which he said will act as a major growth engine, as well the significant investment in urban development, particularly for smaller cities.

"Maharashtra is undergoing massive urbanization. The announcement to accelerate the development of tier-two and tier-three cities, alongside Rs 12 lakh crore fund for city development, will change the face of our urban centres. The Rs 100 crore concession for municipal bonds is move that strengthens the state's municipal corporations," said Shinde, who handles the urban development portfolio in the state government.

Maharashtra's status as a manufacturing hub will be further enhanced by the Rs 40,000 crore provision for semiconductors, Rs 10,000 crore for biopharma as well as promotion of advanced technology in textiles, handlooms, and handicrafts, he added.

The announcement of the Mumbai-Pune and Pune-Hyderabad high speed rail corridors will provide a major boost to the state, Shinde said.

The creation of medical hubs and the promotion of medical tourism would create a surge in jobs within the world-class medical service sectors of Mumbai and Pune, he said.

"This budget is built around three duties: economic development, raising the standard of living of the common man, and development for all. In an era of global instability, India has given a message of self-reliance to the world. Full credit for this foresight must be given to Prime Minister Narendra Modi," Shinde asserted.

He hailed the new simplified income tax system and the reduction of import duties on medicines for chronic diseases, which he described as great relief for thousands of patients. PTI COR BNM